Assessing NETSTREIT's Valuation Amid Strong Shareholder Returns

NETSTREIT (NTST) has posted a 6.0% year-to-date share price return and a 36.4% 1-year total shareholder return. Its revenue is $186.359m, net income is $0.185m, and the shares are trading at $18.84. The most followed narrative puts NTST's fair value closer to $20.36, framing the current move differently. The fair value gap is modest, and the narrative leans on rising revenues, improving margins, and a rich future earnings multiple. However, there are risks to consider, such as e-commerce growth or pressure on key necessity retail tenants.